01 — QQQ · WHEEL STRATEGY

Best QQQ wheel strategy setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Tech-concentrated ETF with liquid options and trend-sensitive intraday behavior.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Invesco QQQ Trust
Index ETF
QQQ
$690.49-6.7% / 30d
IV rank (1y)
49.3% · moderate
Option vol
831K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Cash-secured put · first leg of the wheel
$678 put · Nov 30
30 DAYS · 1.8% OTM · SELL TO OPEN
Credit
$1779
Return
2.58%
PoP
64%
StrikeExpirationCreditReturn ↓PoP
$681
1.4% OTM
Nov 30
30 days
$1774
$17.74 / share
2.57%62%
$677
1.9% OTM
Nov 30
30 days
$1744
$17.44 / share
2.53%64%
$673
2.5% OTM
Nov 30
30 days
$1608
$16.08 / share
2.33%67%
$680
1.5% OTM
Dec 4
34 days
$1594
$15.94 / share
2.31%62%
$679
1.7% OTM
Nov 30
30 days
$1589
$15.89 / share
2.3%63%
$672
2.7% OTM
Nov 30
30 days
$1579
$15.79 / share
2.29%68%
$683
1.1% OTM
Nov 30
30 days
$1574
$15.74 / share
2.28%60%
$682
1.2% OTM
Nov 30
30 days
$1535
$15.35 / share
2.22%61%
$674
2.4% OTM
Nov 30
30 days
$1510
$15.10 / share
2.19%66%
10 of 34 matchesCustomize filters →

03 — Strategy

Wheel Strategy, plainly explained

Traders who want to own quality stocks at lower cost basis while generating premium income on both sides.

P&L at expiration · $678 put · 30 DTE

$0+$1,779losses$660.21 BREAKEVEN$678 STRIKE

Key numbers

Premium collected+$1,779
Max profit+$1,779
Breakeven$660.21
Capped above$678
Probability of profit64%
Days to expiration30

When this trade makes sense

Use when

  • ✓You're willing to start by selling cash-secured puts
  • ✓You'd be happy owning the stock if assigned
  • ✓You can hold long-term if assigned at a lower price
  • ✓IV rank is elevated — both legs pay better premium

Avoid when

  • ✕You can't tie up the cash for the put leg
  • ✕You don't want this stock at any price
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full wheel strategy guide →

05 — RUN IT LIVE

See the highest chance of profit on QQQ.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

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